Just starting to bootstrap a startup and I would not hire from the Bay Area for all but save the founding engineers where its critical we get someone in who has depth of experience and can quickly become a tech lead at staff level. The salaries are just to high.

Instead I will pull from the brilliant pool of engineers from South America and Europe and areas like the mid-west etc. We will do a lot of work in OSS, so running an asynchronous / non-linear workday full time remote team works just great.

I would really not like being limited to hiring in small geographical area.